Buying real estate: foreigners overtook the locals
According to the data of the land cadastre of Cyprus from the beginning of this year more than two thousand contracts of sale of housing, commercial real estate and land plots were signed, which is more than 40 percent more than last year’s same period. At the same time 1,084 transactions (50%) were carried out by foreigners.
Paphos is the most popular city for investing funds among foreigners (430 contracts). The second place is Limassol (337 contracts). The third place is Larnaca (156 contracts). The fourth and fifth places are divided between Famagusta (107 contracts) and Nicosia (54 contracts).
During the first quarter of this year, the number of sales contracts increased by more than 40% (2129) compared to the same period in 2017 (1505). The best growth was shown by free territories of Famagusta (75%). Nicosia (64%), Limassol (47%), Paphos (45%) and Larnaca (only 4%) follow.
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